Costly Mistakes to Avoid When Selling Your Home

September 28, 2016

When it comes time to selling your home, you want to get the most money for it that you can in the shortest amount of time possible. In an ideal world, that would happen every time. Unfortunately, however, there are many people who spend more on their home than what they get out of it, and in extreme cases, they may even have to bring cash to the closing table to cover the loss.

Home selling needs to be done strategically and meticulously. There are certain things that you need to consider before you have your home listed. For instance, is the overall appeal of your home worthy of your list price? Are you planning to renovate anything before you list?

When it comes to home selling, there are risks that can lead to costly mistakes if you don’t know what you’re doing. So, to make the most out of your sale, here are a few mistakes you should avoid:

Selling it on your own. You may have a few prospects in mind to sell your house to, but if you want to get the most revenue and value out of your house, you need a professional to do it for you. A real estate agent can help you list your home at the best price, market it to prospects, and help you during negotiations and logistical processes along the way. There is more to selling a house than just signing a contract. There are many points during a transaction where things can fall apart if they aren’t handled property, so let the experts help you!

Using low quality photos. First impressions are everything, so make sure your house photos on the internet are amazing. You need to make it look attractive enough to encourage potential buyers. Remember, most prospects aren’t going to find your home by driving by it….they will come across it on the internet, and they will base their decisions to see it on the photos they see.

Hiding your house’s flaws. Never hide any flaw in your house. This will destroy your image and can even lead to liability issues. If you have something that needs to be renovated, be open about it. Your buyer will even see these flaws during inspection, so better be honest right from the start. You are legally obligated to disclose any and all known defects honestly.

Not pricing your home properly. It is common that people either overprice or underprice their homes…especially if they are not working with a licensed real estate agent that is familiar with the market. Overpricing will drive prospects away, while underpricing will give you less than what you deserve. Proper pricing is crucial!

Not preparing the house for visits. Buyers make decisions based on what they see and feel when they visit a house. If you haven’t taken the time to tidy up and organize, you may be driving a buyer away. They may think, “If this people aren’t keeping their house clean, what more important issues in the house may they be neglecting?” Make sure your home is clean, organized, and smelling good when a visit is scheduled. Your rule of thumb should be to leave your house every day “show ready”.